Do High Interest Rates Defend Currencies During Speculative Attacks? pot

... other data for SDDS countries can be downloaded at http://dsbb.imf.org/sddsindex.htm . Do High Interest Rates Defend Currencies During Speculative Attacks? Aart Kraay The ... Kraay The World Bank December 2001 Abstract: Do high interest rates defend currencies during speculative attacks? Or do they have the perverse...

Ngày tải lên: 06/03/2014, 14:20

... returns when the high- risk intermediaries b e come bankrupt. Experiment 3: Level shifts in the optimal interest rate policy. We consider uniform upward or downward shifts in interest rates relative ... return to deposits. In addition, we de…ne what we mean by 16 Working Paper/Document de travail 2011-31 Do Low Interest Rates Sow the Seeds of Financial Crises? by Simona E. C...

Ngày tải lên: 15/03/2014, 14:20

... has relatively high real interest rates cannot be done in isolation by focusing exclusively on Brazilian data. Doing so would lead us to conclude that Brazilian real interest rates are actually ... Africa Hungary Philippines Korea Chile Indonesia Czech Rep. Thailand 4 Figure 2. Real Interest Rates in Brazil and the Rest of the Emerging Market IT Regimes, 1996–2009 Brazi...

Ngày tải lên: 22/03/2014, 17:20

... normalisation of policy rates. 36 BIS 80th Annual Report III. Low interest rates: do the risks outweigh the rewards? Central banks around the world first reacted to the economic downturn caused by ... low policy rates raise additional concerns since they are accompanied by considerably higher long-term rates. This may lead Policymakers have started pondering the exit Low interest...

Ngày tải lên: 17/02/2014, 03:20

... their lending rates comparatively less and slowly. Banks may offer implicit interest rate insurance to risk-averse borrowers in the form of below-market rates during periods of high market rates, for ... market interest rates to the interest rate on loans does not depend upon market price variations that influence the value of collateral. Nearly half of bank’s business is don...

Ngày tải lên: 15/03/2014, 14:20

... long-term interest rates and growth rates, we use the present value of one-period interest rates and one-period growth rates of future dividends. This is a nice model in that it has some interesting ... been downward since they were first created in 1997. This seems to confirm in a very rough sense that the downtrend in ex-post real interest rates might also be a downtrend...

Ngày tải lên: 17/03/2014, 08:20

Ngày tải lên: 22/03/2014, 17:20

... between exchange rates and interest rates is negative for expansionary depreciations and positive for contractionary ones. The exact timing of such response of interest rates and exchange rates depends ... involving the link between interest rates and exchange rates in EMEs. Figures 1 through 3 show the behaviour of real e¤ective exchange rates (REER) and short-term inter...

Ngày tải lên: 22/03/2014, 23:20

... official interest rates and consequently in interbank rates. The last critical point is at the end of 2008, when the current financial crisis has forced Central Bank to cut repeatedly interest rates. ... official rates and the interbank rates reduce, this means that mortgage rates (at least in the short term) do not benefit from this reduction and, more generally, that the...

Ngày tải lên: 22/03/2014, 23:20

... short-term interest rates, long-term interest rates and interest rates con- sidered overall, we complete this analysis by studying separately the effect of our statement variable on interest rates ... five-year interest rates than on two-year interest rates. 5.3 Non-parametric Statistics In this section, we present another methodology of the impact of ECB communication o...

Ngày tải lên: 29/03/2014, 01:20